Robinhood Markets (NASDAQ:HOOD) Stock Price Target Lowered at The Goldman Sachs Group

Robinhood Markets (NASDAQ:HOOD) had its price objective trimmed by The Goldman Sachs Group from $128.00 to $115.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Jefferies Financial Group lifted their price objective on Robinhood Markets from $127.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. Raymond James Financial restated a “market perform” rating on shares of Robinhood Markets in a report on Monday, October 5th. UBS Group restated a “buy” rating on shares of Robinhood Markets in a report on Friday, October 30th. Needham & Company LLC dropped their price objective on shares of Robinhood Markets from $126.00 to $116.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Finally, Citigroup reiterated a “market outperform” rating on shares of Robinhood Markets in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Robinhood Markets currently has an average rating of “Moderate Buy” and an average price target of $124.01.

Robinhood Markets Trading Down 4.3%

Shares of NASDAQ:HOOD traded down $3.49 during trading on Friday, reaching $77.86. 18,661,581 shares of the company were exchanged, compared to its average volume of 19,199,100. The firm has a market capitalization of $70.11 billion, a PE ratio of 35.88, a P/E/G ratio of 1.81 and a beta of 2.56. The business’s fifty day simple moving average is $103.25 and its 200-day simple moving average is $91.68. Robinhood Markets has a 12-month low of $63.51 and a 12-month high of $139.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.24 and a quick ratio of 1.24.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Robinhood Markets had a return on equity of 21.49% and a net margin of 39.04%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. Robinhood Markets’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts anticipate that Robinhood Markets will post 2.10 EPS for the current year.

Insider Buying and Selling

In other Robinhood Markets news, CFO Shiv Verma sold 11,472 shares of Robinhood Markets stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $110.42, for a total value of $1,266,738.24. Following the transaction, the chief financial officer owned 56,858 shares in the company, valued at $6,278,260.36. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Gallagher, Jr. sold 10,000 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $113.71, for a total transaction of $1,137,100.00. Following the completion of the transaction, the insider owned 499,943 shares of the company’s stock, valued at $56,848,518.53. This represents a 1.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,045,503 shares of company stock valued at $123,905,130 over the last three months. Corporate insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of HOOD. James T. Borello RIA purchased a new position in Robinhood Markets in the third quarter worth $29,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Robinhood Markets during the second quarter worth $27,000. Meeder Asset Management Inc. lifted its holdings in shares of Robinhood Markets by 167.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 398 shares of the company’s stock valued at $45,000 after purchasing an additional 249 shares during the last quarter. Continuum Advisory LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter valued at $40,000. Finally, Three Bridge Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Recent Robinhood Markets Headlines

Here are a few of the latest headlines about HOOD:

• Positive Sentiment: Margin balances climbed 39% to $23 billion in October, potentially supporting recurring interest income. Funded customers also increased by about 130,000 month over month to 28.9 million, while net deposits reached $15.1 billion. Article: Robinhood’s Margin Balances Reach $23B
• Neutral Sentiment: Goldman Sachs lowered its price target to $115 from $128 but maintained a Buy rating, signaling continued optimism despite a more cautious valuation outlook. Article: Goldman Sachs on Robinhood
• Negative Sentiment: Louisiana’s attorney general has also sued Robinhood and other firms over prediction markets, creating potential regulatory risk for a product line that has recently been a growth bright spot. Article: Louisiana AG Sues Over Prediction Markets

Robinhood Markets Company Profile

Robinhood Markets, Inc. operates a digital financial services platform that gives customers access to investing and financial products through its website and mobile app. Its offerings include trading in stocks, exchange-traded funds, options and cryptocurrencies, as well as retirement accounts and cash-management services. Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood built its business around making financial services more accessible through a mobile-first platform. The company is headquartered in Menlo Park, California, and serves customers in the United States and select international markets.